In Canada, the minimum down payment to get a mortgage on a property is 20%. However, it is possible to put as little as 5%, but you will need to take out mortgage insurance with CMHC (Canada Mortgage and Housing Corp.), Genworth or Canada Guaranty. To be eligible for an insured 5% down payment, you must also occupy the property. For a purchase over $ 500,000, you must have a minimum down payment of 5% on the first $ 500,000, then 10% on the remaining amount. For example, if you buy a $ 700,000 house, you will have to put in $ 25,000 (5% of $ 500,000), plus $ 20,000 (10% of $ 200,000), for a total of $ 45,000.